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Investor Presentaiton

Strategic imperatives drive capital allocation. Prosper in a carbon constrained future Build customer advocacy From Leveraging platforms in To existing markets Leveraging platforms in new markets too -> Expansion into Western Australian gas retail market progressing well: customer acquisitions ahead of plan agl New Energy: continued opportunity for technology- based investments and partnerships with global leaders Opportunities for further offshore growth at appropriate level of risk and return have not been found to date ... but parameters for assessment of potential opportunity unchanged: Developed economies only Deregulated or deregulating markets Cultural and legal alignment Ability for AGL to leverage platform advantage Investor Day | 13 December 2017 48
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